Banyan Tree Residences Sichon: Thailand's Southern Triangle Emerges As A Top Tourism And Investment Destination
As Banyan Tree Residences Sichon breaks ground in Nakhon Si Thammarat, investors and travelers are recognizing the untapped potential of Thailand's diverse coastal regions.
NAKHON SI THAMMARAT, THAILAND - Media OutReach Newswire - 12 February 2025 - Today, Banyan Tree Residences Sichon, a new ultra-luxury branded residence, is set to redefine Southern Thailand's resort landscape. The project broke ground today at a ceremony attended by senior government officials and executives from Banyan Group and the project's developer Urasaya Property.
Absolute Beachfront Living on Thailand's Undiscovered Coast
Nestled along the pristine Sichon Beach, Banyan Tree Residences Sichon presents a collection of 15 private four- and five-bedroom pool villas designed with panoramic ocean views, contemporary interiors, and sustainable architecture.
The development offers private boat transfers (just 45 minutes to Koh Samui), 24-hour concierge service, exclusive spa and wellness experiences, and a beachfront clubhouse with a restaurant and bar. Through The Sanctuary Club, Banyan Group's signature homeowners' program, buyers gain access to a global portfolio of bespoke services, preferential rates, and exclusive lifestyle privileges.
Stuart Reading, Managing Director of Banyan Group Property Development, said: "Banyan Tree Residences Sichon provides investors and second-home buyers an opportunity to be part of an exceptional real estate development with the quality assurance of the Banyan Tree brand."
For those looking to generate returns, Banyan Living—the group's new rental management service—connects owners to Banyan Group's global distribution platform, multilingual customer service, and hospitality standards to maximize rental income while maintaining impeccable property conditions.
New Tourism & Investment Hotspot
The Nakhon Si Thammarat: Tourism, Hotel & Real Estate Market Update from C9 Hotelworks highlights that the province is already on the map, welcoming 3.8 million visitors from January to November 2024, with 69% average hotel occupancy and THB 13.2 billion in tourism revenue.
With its untouched beaches, rich cultural heritage, and increasing accessibility, Nakhon Si Thammarat is being compared to Phuket's rise three decades ago. That transformation was spearheaded by Banyan Group's founder, KP Ho, who turned a disused tin mine into the world-renowned Laguna Phuket destination.
"It reminds me of Phuket 30 years ago," said Ravi Chandran, Executive Director of Urasaya Property and former CEO of Laguna Phuket. "When Banyan Tree launched in Laguna Phuket, it set the stage for the tourism boom that continues today. Nakhon Si Thammarat is on a similar trajectory."
The Future of Southern Thailand's Coastal Market
With improved air connectivity, infrastructure investment, and rising interest from investors, Nakhon Si Thammarat is emerging as Thailand's next sought-after coastal destination.
The North-South Super Highway is further boosting domestic travel, while Thai developers are recognizing the untapped potential of Southern Thailand's resort markets to attract international buyers.
Pricing starts at USD 2.5 million for a Beachfront Pool Villa at Banyan Tree Residences Sichon and USD 1.9 million for an Ocean View Pool Villa. For more information please visit https://sichon.banyantreeresidences.com/.
Hashtag: #BanyanTreeResidencesSichon
The issuer is solely responsible for the content of this announcement.
Banyan Tree Residences Sichon

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Zawya
5 days ago
- Zawya
Banyan Group Residences Introducing its Most Luxurious Ever Phuket Homes at Singapore Sales Exhibition May 31-June 1
The pioneering hospitality group's latest property exhibition is headlined by ultra-luxury condos targeting HNWI amid strong international demand for lifestyle homes in Phuket SINGAPORE - Media OutReach Newswire - 30 May 2025 - Banyan Group Residences' latest sales exhibition, to be held at Fairmont Hotel Singapore this weekend May 31-June 1 will showcase a number of new projects in Phuket, amid a surge of international interest in luxury real estate on the island from all over the world including Singapore which is one of the group's top 5 global source markets and accounts for 6% of the group's Phuket real estate sales. Banyan Group expects to release US$1bn worth of new luxury residential real estate in Phuket over the next two to three years, as demand for quality homes on the island remains high from diverse international markets. At the top of the range is Banyan Group's latest absolute beachfront project, Banyan Tree Beach Residences Oceanus - branded residences at the rarest location within internationally-renowned Laguna Phuket which are set right on the beach in a prime area of Bang Tao, the island's most sought-after district. The 16 magnificent ultra-luxury 4-bedroom Banyan Tree Beach Residences Oceanus are exceptional in every way, with each boasting built-up areas which measure from an incredible 416 sqm all the way up to 768 sqm for the penthouses. Finished to the highest standards using the highest quality materials, they unlock a lifestyle of unparalleled luxury on the doorstep of one of the world's most desirable beaches and are expected to set new record prices for condos on the island. Other recent launches to be showcased in Singapore include Residences at Garrya Phuket, new wellness concept beachfront homes managed as part of the Garrya Phuket hotel which come with guaranteed rental returns of 5% for the first 5 years, and Laguna Lake Residences Aster, minimal-chic contemporary style low-rise condos with a stunning rooftop infinity pool – around a multi-purpose communal lawn and manicured gardens, situated at the entrance of Laguna Phuket and just a stroll away from the popular lifestyle malls of Boat Avenue and Central de Porto. Meanwhile the Group will also be showcasing Skypark Elara Lakelands Residences, stunning nature-themed residences with beautiful rooftop pools and terraces overlooking tranquil parks and lagoons. These are the second phase of condos at the pioneering new Laguna Lakelands, a one square kilometre residential community interwoven by 15km of nature trails and walkways, natural forest and tranquil lagoons. The breathtakingly ambitious master plan is unfolding in stages and incorporates a wide range of recreational options for all ages prioritising health and wellness including a community club featuring an Olympic sized pool, tennis and padel courts and a fitness centre. Banyan Group, led by Singaporean entrepreneur Ho Kwong Ping (KP Ho), is famous for its pioneering Banyan Tree Hotels & Resorts luxury hospitality brand with a strong focus on wellbeing which celebrated its 30 th anniversary last year. The group's first property was Banyan Tree Phuket – also the first resort to introduce the private pool villa concept - but this has since grown to an impressive group of over 90 luxury resorts globally. Last year, Banyan Tree Group rebranded to Banyan Group to reflect the fact that the Group now has 12 global brands of which Banyan Tree is the flagship. Banyan Group has also been an important driving force in the development of Phuket first as a tourism destination, and more recently as a place for second homes. Set against the stunning backdrop of the Andaman Sea, on a 3km stretch of Bang Tao's pristine beach, Laguna Phuket, developed by the Banyan Group has evolved over 35 years to become Asia's leading integrated resort, home to seven world-class hotels, premium facilities as well as now some 3,000 branded residences, many on or close to the beach. Spanning over 1,000 acres of lush parkland and located just a 30-minute drive from Phuket International Airport, Laguna Phuket has an award-winning 18-hole golf course, luxury spas, exceptional dining options, and countless activities to create unforgettable experiences. Its hotels and condos are set against picturesque lagoons and are interconnected by boats. It will soon also have its own 150-metre-long Beach Club with dedicated zones reserved exclusively for residents. As more and more people over time have flocked to Phuket not just for vacations but as a place to live, Laguna Phuket has evolved to become a unique international residential community, welcoming people from diverse backgrounds and nationalities, with nationals of some 70 different countries as its residents. It even has its own kindergarten, medical and wellness facilities. "We're seeing a huge demand for new homes in Phuket due to a whole range of factors from trends such as urban flight, work from home, geopolitical issues and simply the fact that Phuket has become a great place to live with world-class international schools and hospitals and all the benefits of a year-round tropical lifestyle," said Stuart Reading, Managing Director of Banyan Group Residences. "High-quality property is still significantly cheaper in Phuket than in most of the buyer source markets like Hong Kong, Singapore or Europe, which is also an important factor," he said. "For a high quality development in a prime location in Hong Kong, USD1m only gets you about 22sqm of space, compared to over 200 sqm in Phuket," he said. Singapore buyers are in the top 5 markets for residential properties at Laguna Phuket, accounting for 6% of all historic sales. There is still plenty of room for more growth, according to Banyan Group. Up to 2024, a total of around 3,000 residential units have been built in Laguna Phuket, with another 700 now under development. A further 10,000 units are eventually envisaged for Laguna Phuket and Laguna Lakelands over the next 10 years. "Our strategy is to focus solely on quality high spec residences, regardless of their size," says Stuart Reading, MD of Banyan Group Residences. "It's a bit like when you buy a car from a luxury car brand like BMW or Mercedes, even if you are buying a smaller vehicle you know that the quality and craftsmanship is still on the same level as the top of the range models." Mr Reading says the group will develop larger branded apartments and penthouses in some of Laguna Phuket's prime beachfront sites, some possibly measuring up to 500 or even 700 sq m in size. "Scarcity of beachfront land especially on the prestigious central west coast where we're located means we can look to create luxury living through spacious and high-spec apartments with private terrace or rooftop pools rather than land-intensive single villas," he explains. At the same time, Banyan Group will build lower entry price, smaller but still high specification condominiums in Laguna Lakelands, and other sites within Phuket Laguna that are further from the beach. Banyan Group recently announced a new initiative The Laguna Advantage, which offers a full suite of services designed to make living in Phuket easier for new homeowners. They range from complimentary first year management services and property insurance to healthcare and education privileges such as complimentary first year enrolment at Laguna Phuket's award-winning onsite pre-school SILK Kindergarten and special rates at Phuket's leading international schools. Hashtag: #BanyanGroup The issuer is solely responsible for the content of this announcement. About Banyan Group Banyan Group ("Banyan Tree Holdings Limited" or the "Group" - SGX: B58) is an independent, global hospitality company with purpose. The Group prides itself on its pioneering spirit, design-led experiences and commitment to responsible stewardship. Its extensive portfolio spans across over 90 hotels and resorts, over 140 spas and galleries, and 14 branded residences in over 20+ countries. Comprising 12 global brands, including the flagship brand Banyan Tree, each distinct yet united under the experiential membership programme with Banyan. The founding ethos of "Embracing the Environment, Empowering People" is embodied through the Banyan Global Foundation and Banyan Management Academy. Banyan Group is committed to remaining the leading advocate of sustainable travel, with a focus on regenerative tourism and innovative programmes that elevate the guest experience. About Banyan Group Residences Banyan Group Residences is the property development arm of leading hospitality pioneer the Banyan Group, which is listed on the stock exchanges of Thailand and Singapore. With over 30 years of development experience and an impressive portfolio of residential brands to suit different lifestyles and budgets, it is Thailand's leading lifestyle property developer with a strong and increasingly international pipeline of projects. The group ' s main residential brands are the flagship luxury Banyan Tree Residences as well as Angsana Residences, Dhawa Residences, Garrya Residences, Laguna Residences, Cassia Residences, Skypark and the pioneering new Laguna Lakelands. Banyan Group


Zawya
14-05-2025
- Zawya
Banyan Group Residences sets up sales channels for Phuket property in the Middle East
The pioneering hospitality group becomes the first Stock Exchange of Thailand listed developer to appoint a full-time sales team in the Middle East, amid strong international demand for investment homes in Phuket Banyan Group Residences has become the first Thailand property developer listed on the Stock Exchange of Thailand to appoint a full-time sales team to sell its luxury Phuket properties in the Middle East. Sales team executives have been deployed in both the UAE and Saudi Arabia, amid a surge of international interest in luxury real estate in Phuket from all over the world. 'The initial response has been encouraging, and we've already had quite a few investors come over to view our properties,' said Stuart Reading, Managing Director of Banyan Group Properties. 'Since there's been a noticeable increase in visitors to Phuket from the Middle East region in the past couple of years, attracted by the agreeable climate, the high-quality lifestyle, safety, and the welcoming international nature of the community, we thought the time was right now to start developing the market.' Banyan Group expects to release US$1bn worth of new luxury residential real estate in Phuket over the next two to three years, as demand for quality homes on the island remains high from diverse international markets. Over the next 5-10 years this could extend to US$4.5bn or more. Banyan Group, led by Singaporean entrepreneur Ho Kwong Ping (KP Ho), is famous for its pioneering Banyan Tree Hotels & Resorts luxury hospitality brand with a strong focus on wellbeing which celebrated its 30th anniversary last year. The group's first property was Banyan Tree Phuket – also the first resort to introduce the private pool villa concept - but this has since grown to an impressive group of luxury resorts and branded residences globally, including Banyan Tree Resorts in Dubai and Saudi Arabia. Last year, Banyan Tree Group rebranded to Banyan Group to reflect the fact that the Group now has 12 global brands of which Banyan Tree is the flagship. Banyan Group has also been an important driving force in the development of Phuket first as a tourism destination, and more recently as a place for second homes. Set against the stunning backdrop of the Andaman Sea, on a 3km stretch of Bang Tao's pristine beach, Laguna Phuket, developed by the Banyan Group has evolved over 35 years to become Asia's leading integrated resort, home to seven world-class hotels, premium facilities as well as now some 3,000 branded residences, many on or close to the beach. Spanning over 1,000 acres of lush parkland and located just a 30-minute drive from Phuket International Airport, Laguna Phuket has an award-winning 18-hole golf course, luxury spas, exceptional dining options, and countless activities to create unforgettable experiences. Its hotels and condos are set against picturesque lagoons and are interconnected by boats. As more and more people over time have flocked to Phuket not just for vacations but as a place to live, Laguna Phuket has evolved to become a unique international residential community, welcoming people from diverse backgrounds and nationalities, with nationals of some 70 different countries as its residents. It even has its own primary school and wellness facilities. And this community is still growing. Banyan Group expects to release another 5,000 residential units for sale over the next 3-4 years at Laguna Phuket and the neighbouring Laguna Lakelands, a pioneering eco-friendly residential community set in one square kilometre of lush tropical forests and lakes adjacent to Laguna Phuket, which was launched last year. Laguna Lakelands will eventually be Phuket's largest dedicated residential community. 'We're seeing a huge demand for new homes in Phuket due to a whole range of factors from trends such as urban flight, frequent direct flights from many countries including the Middle East, work from home, geopolitical issues and simply the fact that Phuket has become a great place to live with world-class international schools and hospitals and all the benefits of a year-round tropical lifestyle,' said Stuart Reading, Managing Director of Banyan Group Residences. 'High-quality property is still significantly cheaper in Phuket than in most of the buyer source markets like Hong Kong, Singapore, Dubai or Europe, which is also an important factor,' he said. There is still plenty of room for more growth, according to Banyan Group. Up to 2024, a total of around 3,000 residential units have been built in Laguna Phuket, with another 700 now under development. A further 10,000 units are eventually envisaged for Laguna Phuket and Laguna Lakelands over the next 5-10 years. 'Our strategy is to focus solely on quality high spec residences, regardless of their size,' says Stuart Reading, MD of Banyan Group Residences. 'It's a bit like when you buy a car from a luxury car brand like BMW or Mercedes, even if you are buying a smaller vehicle you know that the quality and craftsmanship is still on the same level as the top of the range models.' Mr Reading says the group will develop larger branded apartments and penthouses in some of Laguna Phuket's prime beachfront sites, some possibly measuring up to 500 or even 700 sq m in size. 'Scarcity of beachfront land especially on the prestigious central west coast where we're located means we can look to create luxury living through spacious and high-spec apartments with private terrace or rooftop pools rather than land-intensive single villas,' he explains. At the same time, Banyan Group will build lower entry price, smaller but still high specification condominiums in Laguna Lakelands, and other sites within Phuket Laguna that are further from the beach. Not surprisingly, the recent growth in demand for luxury homes in Phuket has seen other developers enter the market too. But Banyan Group remains the largest and best equipped to provide the full range of professional property management services and indeed lifestyle services that home buyers need. It is also the only developer that has up to now been able to provide developer financing for buyers, allowing them to defer payments for up to 5 years. Banyan Group's development model where buyers can purchase a residence for their own use part of the year but put into a rental programme for the rest of the year and have it professionally looked after by a leading 5-star hospitality expert is also perfect for many international buyers. Banyan Group recently announced a new initiative The Laguna Advantage, which offers a full suite of services designed to make living in Phuket easier for new homeowners. They range from complimentary first year management services and property insurance to healthcare and education privileges such as complimentary first year enrolment at Laguna Phuket's award-winning onsite pre-school SILK Kindergarten and special rates at Phuket's leading international schools. Exclusive privileges, discounts and rewards are additionally available through the brand's signature property owners' programme – The Sanctuary Club – opening residents to Banyan Group's global network of exceptional properties in renowned destinations worldwide. While focusing exclusively on luxury homes, Laguna Phuket uniquely offers residential units that cater to many different budgets and tastes, from smaller studios, through to family apartments all the way up to ultra-luxurious 4- or 5-bedroom beachfront penthouses with private rooftop swimming pools. At the top of the range, Banyan Group's latest state-of-the art Banyan Tree Oceanus beachfront branded residences at Laguna Phuket are magnificent apartments, set right on the beach in a prime area of Bang Tao, fitted out with every conceivable luxury and expected to set new record prices for condos on the island. Other recent launches at Laguna Phuket include Residences at Garrya Phuket, new wellness concept beachfront homes managed as part of the inventory of the Garrya Phuket hotel and Laguna Beach Residences Bayside, a new collection of spacious contemporary apartments and breathtaking penthouses with rooftop pools, linked by picturesque canals and footbridges. Meanwhile after a near sell-out of the first phase of Lakeside Residences at Laguna Lakelands, Banyan Group has just launched Skypark Elara Residences, stunning nature-themed residences with beautiful rooftop pools and terraces overlooking the tranquil parks and lagoons. For more information, please contact: dbantwal@ About Banyan Group Banyan Group ('Banyan Tree Holdings Limited' or the 'Group' - SGX: B58) is an independent, global hospitality company with purpose. The Group prides itself on its pioneering spirit, design-led experiences and commitment to responsible stewardship. Its extensive portfolio spans across 90 hotels and resorts, over 140 spas and galleries, and 14 branded residences in over 20+ countries. Comprising 12 global brands, including the flagship brand Banyan Tree, each distinct yet united under the experiential membership programme with Banyan. The founding ethos of 'Embracing the Environment, Empowering People' is embodied through the Banyan Global Foundation and Banyan Management Academy. Banyan Group is committed to remaining the leading advocate of sustainable travel, with a focus on regenerative tourism and innovative programmes that elevate the guest experience. About Banyan Group Residences Banyan Group Residences is the property development arm of leading hospitality pioneer the Banyan Group, which is listed on the stock exchanges of Thailand and Singapore. With over 30 years of development experience and an impressive portfolio of residential brands to suit different lifestyles and budgets, it is Thailand's leading lifestyle property developer with a strong and increasingly international pipeline of projects. The group's main residential brands are the flagship luxury Banyan Tree Residences as well as Angsana Residences, Dhawa Residences, Garrya Residences, Laguna Residences. Cassia Residences, Skypark and the pioneering new Laguna Lakelands.


Arabian Post
06-05-2025
- Arabian Post
Asian hospitality brands giving Western hotel chains run for their money
By Saifur Rahman When Ho Kwon Ping, a young Stanford drop-out, saw an abandoned tin mine in Thailand's Bang Tao Bay in Laguna Phuket area in 1984, he didn't know what to do with it as the land that was dimmed 'useless' by its former occupiers. It was a patch of a waste land with no activities then. In his Stanford days, he was a firebrand social activist. He was thrown out the university for protesting along with Black Student Union against a Nobel Laureate who had very negative views on the Black community. Ho Kwon Ping was then 32 in 1984 when he along his wife Claire Chiang visited the abandoned tin mine in the place on the Bang Tao Bay that is now popularly known as Laguna Phuket, wondering around the place. The only plus point was its location – next to a patch of a pristine beach on the Andaman Sea, part of the Indian Ocean. Although unsure what to do, he nevertheless decided to buy the entire patch of land that currently measures up to 1,000 acres, perhaps at a throwaway price. Undecided about its future, he then decided to plant trees on the abandoned tin mine and left it there for a good decade. Ten years later, the landscape had changed and turned into a green oasis. Ho Kwon Ping then decided to start a resort project and aptly named it Banyan Tree. Instead of hotel rooms that generate rent per square metre per night, he developed a line-up of luxury villas with private swimming pool, separate bath tub in the open while having separate shower rooms – something that was unheard of – at least till then. This is how Banyan Tree was established in 1994 as a premium resort in the Laguna Beach area of Phuket province in Thailand. It was the first resort to introduce the private pool villa concept in the hospitality industry. Through Banyan Tree, Ho Kwon Ping had re-designed and perhaps re-invented the leisure tourism industry long dominated by the global hospitality chains developed by the Western world. Banyan Tree Laguna consists of 218 villas that commands US$500 average daily rate (ADR) with 78 per cent average occupancy throughout the year. Since then, Banyan Tree remained the flagship development of the group's business with more than 10 hospitality brands evolving across the world in the last three decades with about 100 hotels and resorts currently under the management of the group that has recently been rebranded as Banyan Group. 'Over the years, our pioneering spirit has driven us to define and refine our design-led experiences. Meanwhile, our multi-branded approach has allowed us to enter new markets, catering to diverse guest segments while consistently delivering on our core pillars of sustainability and wellbeing,' Ho Kwon Ping, Founder and Chairman of Banyan Group, says 'Re-introducing ourselves as Banyan Group in 2024, we embraced the diversity of our portfolio and our multi-brand identity, planting seeds for progress in the years to come. 'In 2024, we opened a record 17 new hotels, including our first Banyan Tree in Japan, Banyan Tree Higashiyama Kyoto. We now operate eight hotels across five brands in Japan and are expecting more multi-brand openings in the pipeline. 'In China, we continued to maintain a strong pipeline, innovating to capture the rebounding domestic market. By establishing multi-brand complexes like Banyan Tree and Garrya Yangcheng Lake in Suzhou, and Banyan Tree and Angsana Tengchong in Yunnan, we are catering to a range of travellers seeking varied experiences within a single destination. 'We also signed new agreements to launch branded residences in Madrid and Dubai. This enables us to leverage branded residences as a significant driver of growth and market expansion, broaden our customer base, unlock additional revenue streams, and build brand equity for Banyan Group within untapped market segments.' Banyan Group is the first Thailand property developer listed on the stock exchange of Thailand and Singapore. The group's overall revenue increased by 16 per cent year on year to S$380.6 million (US$295.24 million), with Residences setting yet another new record of S$328.8 million (US$255.05 million) in new sales. Core operating profit also increased to S$69 million (US$53.52 million), up 43 per cent compared to 2023. Stuart Reading, Managing Director of Banyan Group Residences, says, 'Banyan Tree resort is part of a greater vision by our founder Mr Ho Kwon Ping, to transform not only the 1,000 acquired land on the Laguna Phuket beach area, but to change the face of the global hospitality business with new ideas emerging from oriental Thai hospitality.. 'With success, he continued to build hotels and resorts and went on to add more through management contracts and franchisee agreements. Today, with around 100 hotels and resorts operated by 12 hospitality brands, 66 spas and three golf courses across 25 countries in the world, Banyan Group has definitely made its mark in the global tourism industry.' Ho Kwon Ping went on launch Angsana Hotels and Resorts – another fine example of Thai hospitality. Banyan Group's hotels globally operate under different brands – Banyan Tree, Angsana, Laguna, Cassia, Dhawa, Garrya, Homm, Baynan Tree Escape, Banyan Tree Veya, and Folio. This makes Banyan Group one of the most versatile hospitality group's in the world offering a wide array of hospitality solutions – especially the contemporary Thai spas that brings the ancient healing and wellbeing concepts to the tourists in the most effective manner. Ho Kwon Ping says, 'With the increased focus on our core pillars of wellbeing and sustainability, we are ramping up efforts to weave our wellbeing philosophy into the guest experience as well as our associates' experience.' Tourism has been a great contributor to Thai economy with 60,000 registered hotels including 1,130 five-star hotels and resorts with 700,000 hotel rooms serving more than 35 million tourists annually. There are around 12,000 hotel rooms under construction in Phuket province alone. Last year, 35.6 million tourists visited Thailand, generating 1.8 trillion Thai Baht or US$55.11 billion that directly contributed to the Southeast Asian country's US$526 billion GDP, representing 10.47 per cent of its economy. Thailand is the second largest economy in Southeast Asia, with a population of 72 million people. 'This year, the projection for the tourism industry is, 40 million international arrivals,' Stuart Reading, an Australian national who has been serving Banyan Group for the last two decades, says. 'Phuket, with a population of 500,000 residents remains the second most visited city in Thailand with 9.89 million international tourists, second only to Bangkok that catered to 22.78 million tourists last year. 'Tourism represents more than 50 per cent of Phuket's GDP while real estate represents between 5 to 10 per cent. Our hotel industry has a capacity of 45,000 guest rooms and the airport's annual passenger handling capacity is around 18 million passengers per year. The airport connects Phuket to 80 cities with direct flights. ' Global tourism industry historically has long been dominated by the popular Western hotel chains, such as Sheraton, Hilton, Marriott, Hotel Inter-Continental, Le Meridien, Hyatt, Ritz-Carlton, etc. They still dominate, although the Asians and Arabs have also started to develop international hospitality chains since the 1980s. The hotel and resort industry market size reached US$1.5 trillion worldwide in 2023, still dominated by the Western brands. Like Banyan Group in Thailand, Dusit Thani, Anantara Hotels and Resorts, Shangri La Hotels, Taj Hotels and Oberoi Hotels in India, Jumeirah Group, Address Hotels and Resorts in Dubai, Rotana Hotels and Resorts in Abu Dhabi are some of the Asian hospitality chains that have been giving the Western hotel chains a run for their money. The global hotel industry is dominated by major hospitality groups that continue to expand aggressively. The fastest-growing segments include luxury, extended stay, and lifestyle brands, while emerging markets like Asia-Pacific and the Middle East are key areas for future development. Three of the world's top ten hotel management groups belong to China, while the United States lead the overall industry. Jin Jiang International that operates Golden Tulip, Radisson Blu and Park Plaza brands, is the world's largest hotel chain by the number of properties, with nearly 12,000 hotels worldwide. Based in Shanghai, this state-owned hospitality giant has a significant presence in China, while also expanding into Europe, the Americas, and Asia. Through acquisitions like Louvre Hotels Group and Radisson Hotel Group, Jin Jiang strengthened its international portfolio. Banyan Group operates a hotel in Saudi Arabia's new tourism hotspot Al Ula region and one in Dubai. It has recently opened fully-functional sales operation in the UAE and Saudi Arabia, to sell its luxury Phuket properties to the investors in the Middle East who could benefit from 4-6 per cent annual returns and while avail free stay in their units for a period between 1-2 months a year. Banyan Group expects to release US$1 billion worth of new luxury residential real estate in Thailand's Phuket over the next two to three years, as demand for quality homes on the island remains high. Over the next 5-10 years this could extend to US$4.5 billion or more. The sales team executives have been deployed in both the UAE and Saudi Arabia, amid a surge of international interest in luxury real estate in Phuket from all over the world. 'The initial response has been encouraging, and we've already had quite a few investors come over to view our properties,' Stuart Reading says. 'Since there's been a noticeable increase in visitors to Phuket from the Middle East region in the past couple of years, attracted by the agreeable climate, the high-quality lifestyle, safety, and the welcoming international nature of the community, we thought the time was right now to start developing the market.' Last year, Banyan Tree Group rebranded to Banyan Group to reflect the fact that the Group now has 12 global brands of which Banyan Tree is the flagship. Banyan Group has also been an important driving force in the development of Phuket first as a tourism destination, and more recently as a place for second homes. Set against the stunning backdrop of the Andaman Sea, on a 5 kilometre stretch of Bang Tao's pristine beach, Laguna Phuket has evolved to become Asia's leading integrated resort, home to seven world-class hotels, premium facilities as well as now some 3,000 branded residences, many on or close to the beach. Spanning over 1,000 acres of lush parkland and located just a 30-minute drive from Phuket International Airport, Laguna Phuket has an award-winning 18-hole golf course, luxury spas, exceptional dining options, and countless activities to create unforgettable experiences. Its hotels and condos are set against picturesque lagoons and are interconnected by boats. Up to 2024, a total of around 3,000 residential units have been built in Laguna Phuket, with another 700 now under development. A further 10,000 units are eventually envisaged for Laguna Phuket and Laguna Lakelands over the next 5-10 years. Banyan Group expects to release another 5,000 residential units for sale over the next 3-4 years at Laguna Phuket and the neighbouring Laguna Lakelands, a pioneering eco-friendly residential community set in one square kilometre of lush tropical forests and lakes adjacent to Laguna Phuket, which was launched last year. Laguna Lakelands will eventually be Phuket's largest dedicated residential community. Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.